Taiwan placed 23rd in a global talent ranking this year, unchanged from last year, a study by the International Institute for Management Development (IMD) showed, citing the nation's need to improve its educational spending, stop a brain drain and attract foreign skilled personnel.
The slip in Malaysia's talent ranking is in tandem with a separate gauge, the World Competitiveness Yearbook 2017, where Malaysia dropped from 19th to 24th position.
Austria and Finland both moved up one place on previous year to complete the top five.
The top 10 countries in this year's World Talent Ranking are Switzerland, Denmark, Belgium, Austria, Finland, the Netherlands, Norway, Germany, Sweden and Luxembourg, in that order.
European economies perform well in all three talent components of the ranking - appeal, readiness, and investment and development. The IMD World Talent Ranking is based on countries' performance in three main categories- investment and development, appeal and readiness.
However, India has not been successful in terms of investment in education as a percentage of GDP.
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In Singapore, there are concerns about its future - the high level of indebtedness, the difficulty in supporting investment in education, and an increasing cost of life, all make attracting foreign talent to the city-state much more hard.
Bris commented that India needs to do a better job of attracting foreign labour and retaining local talent.
The Philippines' overall ranking for appeal, however was weighed down by poor performance in terms of remuneration in service professions (56th), the protection of personal security and private property rights (49th), quality of life (47th) and the effect of brain drain on the competitiveness of the economy (40th).
China took the lead among BRICS nations, ranking at 40, followed by Russian Federation at 43 and South Africa at 48. These categories assess how countries perform in education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates. Brazil was ranked just after India at the 52nd slot.
Its main weaknesses are in the pupil-teacher ratio (primary education, 61), implementation of apprenticeships (61), availability of skilled labor (60), capacity of the educational system to meet the talent needs of the economy (60) and emphasis assigned to science in schools (60). Its performance in expenditure on education and prioritization of employee training may be of concern for the sustainability of its talent flow.
The ranking of whether Taiwanese companies consider attracting and retaining talent a priority was 38th, it said. They invest significantly in their outstanding educational systems, they offer a superior quality of life, and they offer substantial opportunities for career advancement throughout the entire professional life span.